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ARTICLE · 15 DECEMBER 2015

A Welcome Turn In The Cement Cartel Case – Compat Sets Aside CCI Order

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The cement manufacturers had appealed against this decision of the CCI before the COMPAT, which was ongoing for almost three years and met its conclusion today.

IndiaAntitrust/Competition Law
Sagardeep Rathi
Sagardeep Rathi
Nikita Agarwal
Nikita Agarwal
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The Competition Appellate Tribunal (COMPAT) today, in what could be termed as a landmark decision, remanded the cement cartel case back to the Competition Commission of India (CCI) for fresh adjudication.

Background

The CCI, through an order dated 20 June 2012, had penalised 10 cement manufacturers in India, namely Associated Cement Company Limited, Ambuja Cement Limited, Binani Cement Limited, Century Textiles and Industries Limited, India Cement Limited, JK Cements Limited, Lafarge India Private Limited, Madras Cement Limited, Ultratech Cement Limited and Jaiprakash Associates Limited, to the tune of INR 6307.32 crores for having engaged in cartel to fix prices of cement and earn super-normal profits. This penalty was imposed by the CCI @ 0.5 times the profit earned by the cement manufacturers for the period 2009 – 2011. In a separate but related matter Shree Cement Limited was also penalised to the tune of INR 397.51 crores for being involved in the cement

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